OceanaGold persists through NZ, US troubles

Martha is part of OceanaGold’s Waihi gold operations, where 4337 ounces were produced in the March quarter.

The decline is largely attributed to the batch ore processing from narrow vein mining at the Correnso underground mine.

OceanaGold also reported a reduced output at the Macraes mine in New Zealand due to a mill motor outage earlier this year.

Having delivered a March quarterly production of 34,513 ounces, OceanaGold remains persistent to hit Macraes’ 2021 guidance of 155,000-165,000 ounces.

The company plans to refurbish the motor this quarter while continuing to advance the Macraes underground development and open pit pre-stripping to support its mine life extension to 2028.

With the March quarter not far from troubles, OceanaGold also encountered operational issues at the Haile gold mine in the United States.

The quarter-on-quarter production decline was driven by blocked crusher chutes.

This was offset by a higher feed grade, totalling production of 44,341 ounces during the March period.

OceanaGold remains on track to meet 2021 production targets of 150,000-170,000 ounces despite 111 confirmed COVID-19 cases as of March.

It also remains on course at the Haile underground mine, where operations are due to commence this year ahead of first production in 2022.

In total, OceanaGold expects to produce 340,000-380,000 ounces at its United States and New Zealand operations this year.

The Didipio gold-copper mine in the Philippines has remained suspended due to an unresolved dispute over the mine’s permit renewal.